The Indonesia–Peru Comprehensive Economic Partnership Agreement (IP-CEPA) has officially taken effect. Minister of Trade Budi Santoso aims for bilateral trade to reach USD 960 million (around IDR 15.65 trillion), doubling the 2024 figure of USD 480.7 million. Last year, Indonesia exported goods worth USD 331.2 million to Peru and imported USD 149.6 million, giving Indonesia a trade surplus of USD 181 million.
Budi stated that the agreement not only strengthens current trade but also opens the door to broader cooperation, particularly in sectors such as textiles and footwear. With easier market access to Peru, Indonesia expects significant growth in exports of ready-made garments and other textile products. He emphasized that IP-CEPA will serve as a strategic tool to expand Indonesia’s presence in overseas markets, even though trade value with Peru remains smaller compared to Europe.
